Tuesday, January 27, 2009

American Express lays off more Indian employees

Global credit card and payment services major American Express has asked some more of its employees in India to leave this month, as part of its global restructuring announced late last year.

"Only 1-2 per cent of our present workforce in India is impacted," an Amex spokesperson told media, without giving specific numbers. According to industry sources, Amex has a workforce of over 6,000 people in India.

The company spokesperson separately said in an emailed statement, "The restructuring is part of the overall worldwide re-engineering efforts we announced in late 2008.

In late October 2008, Amex announced that it would cut 7,000 jobs globally, representing about 10 per cent of its worldwide workforce, as part of a plan to save 1.8 billion dollars of costs in 2009.